Just out of curiosity, what drug do they have in phase 3?? According to their website there is not one.
Just thought you might like to know. Also from where they are at in their pipeline it looks to be 10 to 15 years before they get anything advanced enough to possibly get FDA approval.
I expect it to go back down to $3.00 just not tomorrow.
It might pop tomorrow morning depending on where it closes. These stocks with low floats can be very volatile. By the end of tomorrow I think it will be lower than where it closes today.
I don't care, the price increase is insane for a company that at the beginning of the year was trading at about .30 per share so they did a 1 for 20 reverse split to raise the price. They have minimal revenue and that is falling.
I would say down to 3.87 if not lower because that is the price of the 6.46 million shares that they sold to the investor.
How is it non dilutive to shareholders?? Before this investment there were 4 million shares outstanding, this investor is receiving 6.46 million shares for this investment at they got the shares at 3.87 per share. Does anyone read the news?? The reason it's share price is up so much is because of the low float 3.2 million and 10% of that was short. It is going to fall hard and fast once it starts.
Right now pre-split we're trading about .08 per share, i'd say we go to .05 which would be 1.25 post split.
It's a company with no products any time soon. Its lead drug candidate is anatabine citrate that is in Phase I clinical trials, a small molecule, cholinergic agonist which exhibits anti-inflammatory pharmacological characteristics, with a mechanism of action distinct from other anti-inflammatory drugs available, such as biologics, steroids, and non-steroidal anti-inflammatories. The company was formerly known as Star Scientific, Inc. and changed its name to Rock Creek Pharmaceuticals, Inc. in June 2014.
Considering they did a reverse split 1 for 25 in April 14th, pre split thats .11 per share and they just released bad news about law suit and line of credit, I'd say anyone still holding is totally screwed!
Considering that they did a 1 for 25 reverse split on April 14 2015 to boost the price, the stock price is actually .1116 per share and that is with all of this good news!! Can you say pump and Dump?
So with all the "Good News" that you perceive, the stock is trading at $2.77, which is equal to .1108 cents a share considering they did a 1 for 25 stock split on April 14 2015. A reverse split is usually a sigh of no confidence in the company prospects.
Does it make sense that the stock went up almost 300% in 2 days?? 7% is considered a good return on your money if you have it invested. 300% in 2 days is insane!! If you thought that the gains would hold you should not be trading!!
Ok, they are merging with Abeona Theraputics who is developing two products, ABX-A and ABX-B, these two products have had positive results in anmals, pre-clinical trials. They have not started studies on people. To get from this stage to FDA approval on average takes 10 to 15 years. The Company will issue to Abeona Therapeutic members a total of 3,979,761 common shares upon closing of the transaction, and up to an additional $9 million in performance milestones, in common stock or cash, at the Company's option. This for Abeona, a company with no earnings and only two products in the pipeline. In my opinion this is an example of irrational exuberance. A classic pump and dump. Soros news combined with a low float started a feeding frenzy, then the release of more news keeps the excitement going. It will not hold it's gains. Give it a week or two and see where it's trading.
First Quarter Financial Highlights
-- Total revenues of $38.6 million, representing a year-over-year decrease of 34.2%
-- Net loss of $4.4 million, resulting in a net loss per diluted share of $0.09, compared to net income of $6.3 million, or $0.13 per diluted share, in the prior year period
-- Adjusted EBITDA of $4.1 million, compared to $17.4 million in the prior year period
-- Adjusted net loss of $0.5 million, or $0.01 per diluted share, compared to adjusted net income of $7.6 million and $0.15 per diluted share, respectively, in the prior year period
This has run because of the Soros announcement and the low float. It did a reverse split 1 for 50 back on 11/24/14. It will not hold the gains.
This has run like a crazy train because of the low float and the Soros announcement. It split 1 for 50 10/24/14. There is no way it will hold these gains. Check it in a week or so.